"Google's dominance of both the ad-tech sector and paid search seems unlikely to abate. We think that many within the investment community has yet to appreciate the depth of the company's dominance outside of search, but over time this will become increasingly evident," said analyst Brian Wieser

Excluding China, Wieser thinks Google will own 60 percent of Internet advertising by 2017 and 14 of all advertising globally. These figures compare with current levels equivalent to 50 percent of global Internet advertising ex-China and 9 percent globally.

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